Australia's Equinox Resources tanks after regulator denies drilling approval

Eminence Minerals

27/10/2024 23:27

** Shares of Equinox Resources  EQN.AX  fall as much as
42.9% to A$0.120, posting their biggest intraday percentage fall
ever
    ** Mineral explorer hits lowest level since July 31, 2023 
    ** Western Australian Minister for Aboriginal Affairs denies
approval for proposed infill drilling program on a portion of
co's Hamersley iron ore project in Western Australia
    ** Says co is actively pursuing legal avenues to challenge
the decision
    ** Stock down 30% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru; Editing by Lisa Shumaker)
 ((John.Biju@thomsonreuters.com;))